What best describes the role of government in a free enterprise system?
What will be an ideal response?
Ans: Allow individuals to operate their businesses in ways they think will maximize their profits.
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Using the Coase theorem, why might a firm that currently pollutes a river no one owns pollute the river less if it owned the river?
What will be an ideal response?
Which of the following is a FALSE statement about education in the high-growth Asian economies?
A) An emphasis on state funding of advanced degree programs, such as engineering and computer science, increased manufacturing production significantly. B) Literacy rates rose dramatically in the high-growth Asian economies and laid a foundation for a skilled labor force. C) As the average educational level rose, workers could take on more technological, sophisticated production, pushing new investment into product lines. D) Spending was focused on the primary and secondary level, where it has the greatest social impact.